I really hate hearing from customers and prospective customers that we were right and that they wish they had taken our advice to harden their systems and implement tighter security controls before their breach. Feedback from customers suggests the inconvenience of implementing additional controls is often what keeps them from taking action as opposed to the cost, which is negligible for some of the most effective controls like Multi-Factor Authentication (MFA). If you think the controls are inconvenient, you should spend some time visiting with someone who has been through a breach.
The most likely cyber-attack a small business will experience is an email breach which quickly lead to real payment fraud losses, reputational damage, and compliance risk. Once a criminal organization (yes, there are organizations attacking your small business) has success breaching one email account, you can expect the attacks to increase in volume and sophistication. Businesses can dramatically reduce email breach risk with relatively little cost and yes, some minor inconvenience.
Take the Next Steps
If you own a business or have are responsible for managing business risk, you need to take steps to protect your business, your shareholders, your employees, your vendors, and most importantly your customers. You must take action to implement additional controls. Start by asking your IT professionals to implement controls for yourself so you can understand first-hand how the controls protect your business and the level of inconvenience the controls may cause. This puts you in the best position possible to make informed decisions about how to protect your business and champion initiatives to tighten controls.
If you’ve done nothing to date, start with implementing MFA for your business email and then work with an IT professional to constantly review and improve security controls around all your systems and data.
I’m right and I hope I never have to tell you “I told you so”.